Global macro overview for 11/10/2018
October 11, 2018 7:22 amVideo
Latest News
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
- EUR/USD. Analysis for April 12th. The euro falls down under the pressure of the news background April 12, 2024
- GBP/USD. Analysis for April 12th. A significant event: the pound fell below the 25-figure April 12, 2024
- Trading Signals for EUR/USD for April 12-15, 2024: buy above 1.0620 (-2/8 Murray – rebound) April 12, 2024
- GBP/USD: trading plan for the US session on April 12th (analysis of morning deals). The pound followed the euro April 12, 2024
- EUR/USD: trading plan for the US session on April 12th (analysis of morning deals). The euro continues to fall April 12, 2024
- EUR/USD and GBP/USD: Technical analysis on April 12 April 12, 2024
- EUR/USD: Dovish signals from the ECB and rising PPI April 12, 2024
- EUR/USD. April 12th. ECB meeting: confidence in rate cut increased in June April 12, 2024
- GBP/USD. April 12th. British economy continues to stagnate April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 (US session) April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 (US session) April 12, 2024
- Analysis and trading tips for GBP/USD on April 12 (US session) April 12, 2024
- Weekly Forex Outlook: 12/04/2024 – More inflation data on the way as rate cut bets in disarray April 12, 2024
- Technical Analysis – GBPUSD ticks down to new 5-month low April 12, 2024
- Bitcoin holds above $70,000 as halving event looms – Crypto News April 12, 2024
- Week Ahead – More inflation data on the way as rate cut bets thrown into disarray April 12, 2024
- Bitcoin will thrive during supply crisis April 12, 2024
- Technical Analysis – EURUSD plummets after US CPI and ECB decision April 12, 2024
The Wednesday session turned out to be tragic on Wall Street. All important indexes lost over 3% of the value:
SP500 -3.29%, closing at 2,785 points
Dow Jones Industrial Average -3.15%, closing at 25 598 points
Nasdaq -4.08%, closing at 7,422 points
For the first two indices, it was the largest one-day drop since February 8, and Nasdaq has been worse off lately after announcing the results of the vote in the Brexit case. Although yesterday’s session was not so devastating again, it casts a shadow on the stock market rally driven by great economic data and a reduction in taxes for enterprises. In last week, new highs on indices have been set, and here there has been such drastic depreciation. Wall Street may suffer because of the increasing cost of employment and more expensive loans related to tightening the policy by the FED – yesterday’s reaction of investors is just a kind of realization that the policy of low-interest rates has already ended.
Let’s now take a look at the SPX technical picture at the H4 time frame. The index has hit the 61% Fibo retracement at the level of 278.11 but has closed below it anyway. The nearest technical resistance zone is seen between the levels of 279.48 – 280.62. On the other hand, the next technical support is seen at the level of 276.48 and in a case of the sell-off extension lower – at the level of 273.94. The sell-off might last longer as the momentum oscillator is deep below its fifty level and it is pointing down.
The material has been provided by InstaForex Company – www.instaforex.com
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